When it comes time to replace your roof, the financial end of things can be a real burden. The cost of roof replacement isn’t cheap, and will likely be one of the biggest investments you will make in your home. Luckily, for homeowners, there are several financing options available to help you get the new roof that you need. Nickerson Roofing is here to talk about financial options that are available to homeowners that are looking to replace their roof.
Cost to Tear Off & Replace Roof
There are no two roofs that are the same. When determining the cost of roof replacement, there are several factors that come into play. The cost can vary significantly depending on these different areas.
– House Size: If you live in a large house, you will obviously be paying more than a home with less square footage.
– Season for Roof Replacement: Later in the summer and early fall seem to be the busiest time of the year for roof replacements. Because companies are busier, you may find that you pay more during that season that you would others. You may get a better price when you have your roof replaced during the winter and early spring.
– Roofing Materials: There are varying roofing materials depending on your home’s style and roofing needs. Each type of roofing material has a different cost.
Roofing Replacement Financing Options
Following are some of the many options available when it comes to financing your new roof.
– Insurance: If your roof has been damaged due to fire or storm damage, your home owner’s insurance should cover the replacement cost.
– Payment Plans: Many roofing companies offer payment plans through them. Be sure you know the interest rate and are comfortable with it.
– FHA Title I Loan: When facing major repairs and replacement a Title I Home Improvement Loan is one of the best ways to pay for it. You can usually borrow up to $25,000 and have 20 years to pay it off.
– Equity Loan: If you have some equity in your home, you can use that to pay for your roof as well. Keep in mind that if you get behind on payments though, you could lose your home.
– Personal Loan: When the other options listed above don’t work out, you can always look into a personal loan to cover it. Working with your local bank or credit union, you can work out the details of the loan.
Roof Replacement & More in Truckee, Mystic, Floriston, Olympic Valley, Alpine Meadows, Tahoe City, Dollar Point, Ridgewood, Carnelian Bay, Kings Beach, Eder, Norden, Soda Springs & The North Lake Tahoe Basin of California
Of course, when it comes to financing your roof replacement, there are many financial factors that come into play. It is something that you should do plenty of research on and know every detail about the process that you decide is best for you. If you are in need of major roof repair or replacement, you can count on the experts at Nickerson Roofing to handle it. Call us today to schedule your consultation.